[174 Pages Report] The mining lubricants market was valued at USD 1,954.0 million in 2016 and is projected to reach USD 2,561.2 million by 2022, at a CAGR of 4.5% from 2017 to 2022. Mining lubricants are used in a variety of mining machines such as hydraulic systems, turbines, compressors, bearings, open and closed gears, machine tool slide ways, pneumatic tools, mining transmissions, and others. These lubricants have a high viscosity index, extended oil drain intervals, maximum lubricant performance, and extreme pressure and anti-wear properties. Lubricants also prevent rusting and corrosion of moving parts in machinery.

Market Dynamics

Drivers

Growth of mining industry

Increased demand for better quality mining lubricants

Restraints

Downturn in mining related investments in Australia and South Africa

Opportunities

Increased investments in the mining industry of the emerging economies

Emerging automated lubrication systems

Challenges

Mineral oil lubricants are available in light and heavy grades depending on the usage and requirement. They are produced in large quantities because of its high usage in various mining applications. The mining sector continue to utilize high volumes of mineral oil lubricants because of its low cost. The market for this segment is driven by the increasing demand from Asia-Pacific and South America.

The objectives of this study are:

To analyze and forecast the size of the global mining lubricants markets, in terms of value and volume

To define, segment, and estimate the global mining lubricants market by type, end-use industry, and region

To provide detailed information regarding the crucial factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)

To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contribution to the total market

To analyze the opportunities in the mining lubricants market for stakeholders and details of the competitive landscape for market leaders

To project the size of market segments, in terms of value and volume, with respect to five main regions namely, Asia-Pacific, North America, Europe, Middle East & Africa and South America

To strategically profile the key players and comprehensively analyze their market share and core competencies

To track and analyze competitive developments such as new product launches, acquisitions, investments, expansions, partnerships, agreements, joint ventures, collaborations, product approvals, and other developments in the mining lubricants market

The years considered for the study are:

Base Year  2016

Estimated Year  2017

Projected Year  2022

Forecast Period  2017 to 2022

For company profiles in the report, 2016 has been considered as the base year. In certain cases, wherein information is unavailable for the base year, the years prior to it have been considered.

Research Methodology

The research methodology used to estimate and forecast the global mining lubricants market began with capturing data on key vendor revenues through secondary sources such as Hoovers, Bloomberg, Chemical Weekly, Factiva, and various other government and private websites. The vendor offerings have also been taken into consideration to determine the market segmentation. After arriving at the overall market size, the total market was split into several segments and subsegments, which were later verified through primary research by conducting extensive interviews with key personnel, such as CEOs, VPs, directors, and executives. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments of the market. The breakdown of profiles of primaries is depicted in the figure below.

This study answers several questions for the stakeholders, primarily the market segments which they need to focus upon during the next two to five years so that they may prioritize their efforts and investments accordingly.

Scope of the report:

This research report categorizes the global mining lubricants market based on type, application, and region, forecasting revenues as well as analyzing trends in each of the submarkets.

On the basis of type

Mineral Oil Lubricants

Synthetic Lubricants

On the basis of end-use industry:

Coal Mining

Iron Ore Mining

Bauxite Mining

Rare Earth Mineral Mining

Precious Metals Mining

Others

On the basis of region:

Asia-Pacific

North America

Europe

Middle East & Africa

South America

The following customization options are available for the report:

With the given market data, MarketsandMarkets offers customizations as per the companys specific needs. The following customization options are available for the report:

Product Analysis

Product Matrix, which gives a detailed comparison of the product portfolio of each company.

Geographic Analysis

Further breakdown of the Rest of Asia-Pacific, Rest of Middle East & Africa, Rest of Europe, and Rest of South America mining lubricants markets.

Company Information

Detailed analysis and profiling of additional market players (up to five companies)

The mining lubricants market was valued at USD 1.95 Billion in 2016, and is projected to reach USD 2.56 Billion by 2022, at a CAGR of 4.5% from 2017 to 2022. The growth of the mining lubricants market is driven by the increasing demand from the Asia-Pacific region and growing end use industries such as coal and iron ore mining. The mining industry in Asia-Pacific and the Middle East is growing rapidly, which in turn is fueling the growth of mining lubricants market. Moreover, the demand of high quality and high performance lubricants is expected to further propel the mining lubricants market during the forecast period. The rising trend towards usage of automated lubricants system offers a lucrative opportunity for manufacturers to attract more customers.

The mineral oil segment led the mining lubricants market, in 2016. Low price of mineral oil lubricants is expected to drive the market for this segment during the forecast period. Asia-Pacific is the largest market for mineral oil. The growth of this segment in Asia-Pacific is attributed to the increased consumption of mineral oil in the coal mining industry in emerging countries such as India and China.

The coal mining segment led the global mining lubricants market in 2016, due to the high consumption of heavy load equipment in the coal mining industry. The coal mining industry accounted for the largest share of 56.3%, in terms of value, of the overall mining lubricants market in 2016. The coal mining segment is driven by the improved quality high performance lubricants, which offer high viscosity index, better corrosion prevention, and high resistance to oxidation.

Asia-Pacific was the largest market of mining lubricants in 2016, and is estimated to grow at the highest CAGR during the forecast period. The high growth of the emerging economies make Asia-Pacific an attractive market for mining lubricant. The tremendous growth of coal mining activities in China and India, are primarily responsible for the high consumption of mining lubricants.

Mining-related investments are expected to decrease in the coming years in countries such as Australia and South Africa, which would eventually hamper the growth of the mining lubricants market. According to National Australia Bank, mining-related investments in the country are expected to decline around 70% from 2017 to 2020. The mining industry in South Africa witnessed various challenges such as local cost pressures, labor unrest, and a continuing downswing in commodity prices, which has resulted in reduced profit margins. A decrease in mining-related investments in these countries would have an adverse impact on the mining lubricants market. Key players operating in the mining lubricants market are Royal Dutch Shell Plc. (Netherlands), ExxonMobil Corporation (U.S.), BP Plc. (U.K.), Chevron Corporation (U.S.), LUKOIL (Russia), Idemitsu Kosan Co., Ltd. (Japan), and Total S.A. (France), among others, have adopted various strategies to increase their market shares. Expansions, acquisitions, and new product launches are some of the key strategies adopted by market players to achieve growth in the mining lubricants market.

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